Re:Poll: Non-Founders, Why Are You Not Starting a Start-Up?
by rdl on Wednesday September 28, 2011 @10:36PM
(#3050880)
I'm in my 30s, not super-rich (rich by 99% of the world's standards, but it's not like I can buy a house in Palo Alto or anything, yet), and working on a startup (as a co-founder with 2 guys who have been my friends/professional colleagues for >15y).
My main cost is opportunity; I could easily make 200-400k/yr consulting or working somewhere else. I have enough savings and lifestyle hacks to live pretty comfortably while working on the startup, and we've raised enough money to pay ourselves minimal salaries too once we decide to do so.
If someone gave me $5mm cash, I'd be working on exactly the same thing -- the only difference is I'd go on $30-40k of vacations per year vs. maybe $5k, and I'd possibly invest in some other startups.
I don't think I'd be willing to work on a random social media ad network or facebook game for $250k/yr now or after getting $5mm, but if you're working on problems you genuinely care about, and a startup is the best way to solve those problems, I don't see why money would be much of a factor (as long as you could subsist).
I spent 5-10h/wk doing work-related things I wouldn't do otherwise (meeting with VCs or vendors, mainly); the rest of my time is spent working with people I like on problems I want to solve.
My main cost is opportunity; I could easily make 200-400k/yr consulting or working somewhere else. I have enough savings and lifestyle hacks to live pretty comfortably while working on the startup, and we've raised enough money to pay ourselves minimal salaries too once we decide to do so.
If someone gave me $5mm cash, I'd be working on exactly the same thing -- the only difference is I'd go on $30-40k of vacations per year vs. maybe $5k, and I'd possibly invest in some other startups.
I don't think I'd be willing to work on a random social media ad network or facebook game for $250k/yr now or after getting $5mm, but if you're working on problems you genuinely care about, and a startup is the best way to solve those problems, I don't see why money would be much of a factor (as long as you could subsist).
I spent 5-10h/wk doing work-related things I wouldn't do otherwise (meeting with VCs or vendors, mainly); the rest of my time is spent working with people I like on problems I want to solve.